CIBC Lowers Linamar (TSE:LNR) Price Target to C$84.00

Linamar (TSE:LNR) had its price target reduced by investment analysts at CIBC from C$85.00 to C$84.00 in a report released on Thursday,BayStreet.CA reports. CIBC’s target price points to a potential upside of 37.19% from the stock’s previous close.

Several other equities analysts have also issued reports on LNR. TD Securities lowered Linamar from a “buy” rating to a “hold” rating and dropped their price objective for the stock from C$89.00 to C$68.00 in a report on Wednesday. BMO Capital Markets decreased their target price on Linamar from C$80.00 to C$75.00 in a research report on Wednesday. Finally, Scotiabank lowered Linamar from an “outperform” rating to a “sector perform” rating and cut their price target for the stock from C$86.00 to C$77.00 in a research report on Tuesday, October 29th.

Linamar Stock Up 0.4 %

Shares of TSE LNR opened at C$61.23 on Thursday. The stock has a market cap of C$3.77 billion, a P/E ratio of 6.25, a PEG ratio of 1.12 and a beta of 1.41. The business’s fifty day simple moving average is C$61.67 and its 200-day simple moving average is C$64.93. Linamar has a 12-month low of C$54.95 and a 12-month high of C$73.84. The company has a current ratio of 1.68, a quick ratio of 0.75 and a debt-to-equity ratio of 46.32.

Linamar (TSE:LNR) last posted its quarterly earnings results on Tuesday, November 12th. The company reported C$2.35 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of C$2.15 by C$0.20. The company had revenue of C$2.64 billion for the quarter, compared to analyst estimates of C$2.75 billion. Linamar had a return on equity of 11.31% and a net margin of 5.77%. As a group, equities analysts predict that Linamar will post 11.4332724 EPS for the current fiscal year.

Linamar Company Profile

Linamar Corporation, together with its subsidiaries, produces engineered products in Canada, Europe, the Asia Pacific, and rest of North America. It operates through two segments, Mobility and Industrial. The Mobility segment focuses on light metal casting, forging, machining, and assembly for electrified and powered vehicle markets.